Can Kraft CEO pass on Cadbury chocolate?

Sun Nov 8, 2009 10:33pm GMT
 
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(Repeats story initially transmitted on Friday)

* Kraft CEO says won't overpay for Cadbury

* Can she let it get away after public pursuit?

* Cadbury's Stitzer "bleeds" Cadbury purple

By Brad Dorfman and David Jones CHICAGO/LONDON, Nov 8 (Reuters) - Can Kraft Foods Inc (KFT.N) Chief Executive Officer Irene Rosenfeld survive without a chocolate fix?

Two months after Kraft publicly declared its proposed bid for Cadbury Plc (CBRY.L) -- now worth about $16.36 billion -- Rosenfeld faces a Monday deadline to decide whether to proceed with a formal offer or walk away for at least six months.

Deal watchers expect Rosenfeld to keep her hand in the game. But they question how much she can risk in her pursuit of the British chocolatier, either by making her bid too sweet or by losing a chance to dominate a faster-growing market.

"Irene Rosenfeld's credibility as Kraft's CEO is at risk if the deal doesn't go through, given that it has been played out so publicly," said analyst Warren Ackerman at brokerage Evolution Securities.   Continued...

 
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